Biden Boosts Deficit Reduction in Budget Proposal

[applegrove]

Biden Boosts Deficit Reduction in Budget Proposal

March 8, 2023 at 3:16 pm EST By Taegan Goddard 19 Comments

https://politicalwire.com/2023/03/08/biden-boosts-deficit-reduction-in-budget-proposal/

"SNIP.......

“President Joe Biden’s upcoming budget proposal aims to cut deficits by nearly $3 trillion over the next decade,” the AP reports.

“That deficit reduction goal is significantly higher than the $2 trillion that Biden had promised in his State of the Union address last month. It also is a sharp contrast with House Republicans, who have called for a path to a balanced budget but have yet to offer a blueprint.”

Meanwhile, CNN reports Republicans aren’t likely to have their own proposal until mid-May.

.......SNIP"

[Grins]

1. "...Republicans (won't) have their own proposal until mid-May."

Just as soon as they put the final touches on their fabulous, cheaper than Obamacare, ‘Yer-gonna’-love-it! health care bill.

Hint: Don’t bank on it.

Any bill from the GOP will be just another round of tax cuts, exemptions, and waivers, with knuckles for the less affluent.

[Achilleaze]

2. An actual conservative* idea that the Repugs will hate

Because Republicans are not conservatives. That's just a word they use to cover up their KREEPING FACISM.

They conserve nothing. They waste everything, including the truth, honesty, integrity, and respect for America and Americans.

[GregariousGroundhog]

3. There are only two changes I would like to see to the tax code

1) Tax capital gains at the same rate as ordinary income
2) Make it so that people in the top tax bracket cannot use deductions/rebates to reduce their tax paid below 50% of what the tax bracket calls for. IE, people in the 37% bracket must pay at least 18.5% of their income above $539,901, even if deductions/rebates would have lowered their liability below that rate.